There are many ways to save money everyday. Below I've listed some areas of savings on monthly costs.
a. Gas and Electricity: It's about just using less every day.
b. Food Shopping: It's not about buying lower quality goods. We just shop in lower rent neighborhoods. The prices are lower.
c. Home Phone & Broadband: Disconnect lines you don't use. Sometimes it is cheaper to have a mobile phone only with no land line connection!
d. Free international calls: You can call abroad for free via the internet. Check your phone provider's packages.
e. Account for your expenses: For some people, self-control is a real issue and if the money isn't 'accounted for' immediately, they tend to spend it on impulse and luxury items that are nonessential. Invest in personal accounting software.
If you find yourself in this category, or have trouble saving, you could think about creating a savings account that is automatically funded each month. To do this, you may need to create a monthly budget to determine a monthly savings goal.
5. If you do create a budget, make sure that it is realistic, matches your lifestyle and that it leave plenty of room for hidden expenses that seem to pop up regularly. If you create an unrealistic budget you'll likely lose one of the ways to save money, become frustrated and resort to your old ways.
Finding it hard to make that dollar stretch? You're not alone. Many of us are feeling the pinch of inflation. With higher gas prices and housing costs reaching into the stratosphere, it's becoming harder and harder to find creative ways to save money.
Wondering how you can squeeze more ways to save money out of your paycheck? Ask us about offshore company incorporation.
Worried you won't have enough money to retire?
6. In order to effectively use the different ways to save money that you'll need for retirement, you need to take 3 steps to set you on the road to saving big time. If you can't manage theses 3 steps, you will forever be playing catch-up.
a. First, get out of debt.
Pay off credit cards. Pay off cars. Pay off anything that isn't tax deductible. If you're leasing a car and you can't write it off as a business expense, you're pouring money down a black hole. Consolidate debt if you must, but get out of debt as soon as possible.
b. Second, change your mindset and find ways to save money.
Before you can start to use the various ways to save money, you need to change the way you think about it. Most people think that money can buy them happiness in the form of plasma TVs, fancy cars and honker houses. Sure, we want these things, but we don't need them. This is what gets most folks into trouble and is almost always the reason that makes saving difficult.
The next time you go shopping, even if it's only to the grocery store, ask yourself two questions:
Do I want it? OR
Do I need it?
If you're looking at a gallon of milk and there's no milk in the house, it's almost certain that you need it. If, however, you're looking at another jar of jelly when you already have three half used jars in the fridge, you might want it, but you certainly don't need it.
Always ask yourself these two questions before buying anything, answer them honestly, and you will be close to effectively using the many ways to save money.
c. Third, pay cash for everything (well almost everything).
This will probably be the hardest thing you ever do (except lose weight), but it's the best way to break the spending habit and start using different ways to save money.
Most people have forgotten what money, real money, feels like. We use plastic for everything. Debit cards have replaced cash. We have been desensitized to the value of money. Only by regaining a feel for money can you begin to appreciate its value.
As you watch the actual dollars disappear faster than you ever thought possible, you will begin to realize how you have been allowing money to disappear down that spending drain.
Only then will you begin to discover ways to save money (faster than you ever thought possible). In fact, saving might become an obsession as you see the actual dollars accumulate.
My favorite is the offshore company.
All you need to do is find an incorporation agent in Seychelles, Mauritius, Ras Al Khaimah, Dubai or British Virgin Islands. Send them the documents required to open a company. Once they confirm, you can send them the fee and they will courier to you the documents.
If you like you can also open an internet ready bank account. Any savings you make can be invested into this company. If you will not pay any income or capital gains taxes in these countries. And your total cost will usually be less than US$ 3000.
Ramapati Singhania specializes in creating and managing web businesses. His
latest website on incorporation offshore saves wealth focuses on
helping you to incorporate offshore companies in Seychelles, Mauritius, BVI, and Dubai and Ras Al Khaimah in the United Arab Emirates.